Thursday, May 31, 2018

Trump Goes Neanderthal: Slaps New Tariffs On Mexico, Canada and the EU

He will impose steel and aluminum tariffs on Canada, the European Union and Mexico. The regions were previously exempted from the tariffs.

A 25 percent tariff on steel and a 10 percent tariff on aluminum from the European Union, Canada and Mexico, which supply nearly half of America’s imported metal, will go into effect at midnight Thursday, Wilbur Ross, the commerce secretary, said on a call with reporters.

This will only hurt consumers by limiting supply and causing an increase in prices---not to mention that there are likely to be retaliatory actions from the countries that Trump has targetted.